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Level 1

What category do I use for a monthly fee that I am charged for a business line of credit?

 
2 Comments
QuickBooks Team

What category do I use for a monthly fee that I am charged for a business line of credit?

Welcome to the Community, @chapmand49.

 

I'm here to help categorize your business line of credit in QuickBooks Self-Employed (QBSE).

 

You can use the Taxes and Licenses category to categorize fees related to your self-employed work. However, I highly recommend seeking help from your accountant. This way, they can guide you on which category to select based on the recording practices and business needs.

 

I'm adding this article to learn more about Schedule C categories in QuickBooks: Schedule C and expense categories in QuickBooks Self-Employed.

 

Please let me know if you need clarification about this, or there's anything else I can do for you. I'll be standing by for your response. Have a great day.

QuickBooks Team

What category do I use for a monthly fee that I am charged for a business line of credit?

I'm back to ensure your concern is addressed, @chapmand49.

 

May I know if you were able to categorize your business line of credit by using the Taxes and Licenses category or seeking help with your accountant for the correct account? If you need further assistance with this, you're welcome to post again or leave a reply below. We're always here to help.

 

Thanks for coming to the Community, wishing you and your business continues success.

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